Pronunciation

/loʊn/

Definitions

• Noun (n): A sum of money or other valuable asset given to someone for a period of time with the expectation that it will be repaid in full, usually with interest. For example: “She took out a student loan to pay for her education.”
• Noun (n): The act of lending something, especially money, to someone. Example: “The bank specializes in home loans.”
• Verb (v): To lend something, typically money, to someone temporarily. Example: “They have agreed to loan us the money to buy a new car.”
• Verb (v): To borrow something, typically money, from someone or a financial institution. Example: “He decided to loan the book to his friend for a week.”

Phrases

• “Loan shark”: An informal lender who charges extremely high-interest rates.
• “Loan agreement”: A legal document specifying the terms and conditions of a loan.
• “Payday loan”: A short-term, high-interest loan intended to bridge the borrower’s finances until their next payday.

Example Sentences

• Noun: “The company secured a substantial business loan to expand its operations.”
• Verb: “I can loan you my car while yours is in the shop.”
• Verb: “She needed to loan some money to cover her rent until her paycheck arrived.”

Synonyms

• Advance
• Credit
• Borrowing
• Lending
• Financing
• Debt
• Mortgage
• Leasing
• Hire-purchase